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U.S. stock index futures on Wednesday pointed to a largely lower open, a day after Wall Street saw heavy selling to kick off the historically weak month of September. Here are some stocks to watch on Wednesday:
- Shares of Dollar Tree (DLTR) slumped about 11% in pre-market trading, after the discount retailer delivered a Q2 top- and bottom-line miss and slashed its full-year net sales guidance. The company’s finance chief Jeff Davis said the revision was partly due to “a more conservative sales outlook at Dollar Tree for the balance of the year.” DLTR also cut its full-year adjusted profit per share forecast. Dollar Tree’s (DLTR) results echo those of larger rival Dollar General (DG) last week. Dollar General’s (DG) performance had led to a more than 30% plunge in its shares.
- Hewlett Packard Enterprise (HPE) stock will be in focus, with the information technology services provider scheduled to report FQ3 2024 results after the closing bell. Wall Street expects the Houston, Texas-based firm to earn 47 cents per share on revenue of $7.67B. Hewlett Packard Enterprise (HPE) offers services such as its cloud platform HPE GreenLake, and products ranging from storage devices to networking gear. The company is in the process of buying networking products maker Juniper Networks (JNPR) for about $14B.
- Shares of Intel (INTC) were among the most-actively traded ahead of the opening bell, slipping nearly 3%. The decline came amid some growing chatter that the legacy chipmaker’s stock could be replaced in the venerable Dow Jones Industrial Average (DJI) after being part of the blue-chip index for nearly a quarter of a century. Meanwhile, Reuters also reported that Intel’s (INTC) contract manufacturing business had potentially seen a setback after tests with Broadcom (AVGO) failed.
- Nordstrom (JWN) stock seesawed ahead of market open, last down about 0.4%. The department store chain was in focus after the Nordstrom family delivered a non-binding offer to acquire the company for $23/share in cash, according to a regulatory filing on Wednesday. The offer represents a premium of less than 1% to Nordstrom’s (JWN) closing price of $22.82 on Tuesday. The department store chain’s special committee also confirmed the receipt of the offer.
